MINING NEWS. THE MINES.

Te Aroha News, Volume II, Issue 101, 9 May 1885, Page 2

MINING NEWS.

THE MINES.

Battery Returns. — New Find, fr>m old tailings, 31oz retorted gold. From Battery, 50 trucks, 250z retorted gold. Premier, 8 trucks, soz lldwta retorted gold. Battery now employed as follows : New Find, 15 head stampers : Canadian, 5 do ; Eureka, 10 do. ; 10 head >ung up. Tailing Plant : 16 berdans Ne* Find, 19 Premier.

New Find.—Work in this mine is going on much as reported la3t week. The dirt/is now being principally obtained from the surface of No. 1 reef. The returns from the battery, although appearing at lirst sight as small, are in reality fairly satisfactory, seeing that the dirt now being put thrcigh is very easily broken, costing in. fact only about half the ordinary rate for breaking out in the past; beim? obtained, as already stated, principally from the surface, and therefore no timbering, filling in, or other expensive work is necessary. l It is also being .crushed at the reduced scale of charges at the battery. The ground from whence crushing dirt is now being obtained,, had, of necessity, to tye left stand untouched till now, owing to the excessively high crushing charges hitherto Enforced foi the treatment of quartz. 'f' Canadian.—Messrs Sly and party, the contractors for breaking out 100 tons of quartz, are making fair progress with the work in hand j and are now obtaining their dirt fiom what is known as the Colonist main reef. Premier —Work is proceeding much as reported in last issue, and there is nothing fresh to mention. Wellington. —Messrs Garin and Sykes have gone to work on this Company's ground, on tribute, and are now working upon the reef from which the Company crushed. Messrs O'Keeffe ami "party, tributers, are also getting oufc out another crushing from the above ground.

Nkw Find Gold Mining Compakv. —The third annual meeting of the.NeiV Find GuM Mihing Company was to Imve been held on Wednp9.layl.l3t, but 'apsed for want of a quorum. ' The following, however, is the directors' report ; — Notwithstanding that the progress of the past year has not been eqn. 1 to that> which wa3 anticipated, nevertheless it has been satisfactory in so far as that We have been evabled to pay dividends to the extent of £i9BO. We have also much pleasure in stating that a considerable reduction in the charge for crushing has recently bflen, t made by the battery Company, and that the prospects of the mine referred to in the mine manager's report are very encouraging. Tnldnur into consideration the reduced charge for crushing, and the prospe.cts of the mine, we may fairly anticipate dividends for the ensuing year.' The balance-sheet herewith submitted, exhibits in fall a statement of the receipts and 1 expenditure, assets and liabilities, capita! and profit and loss' account f The liabilities, aa'will be obserVedi on perusal /of ' the balance-beet, are £262 j; i>is 7d. in excess ..of the, ass,pts,.but. that: deficiency will be more than covered by the proceeds from tailing«'Ti-owlying-Btabfeed''arid ready for t'reatme'hfc'litfWe, tailings' mill The mine ma^^V^'^l^f^-ti^ll^^fc^iyer^. submitted a detajje^l^repprt, 6,! the bjpera- ( t^on3 in thejjniine." t! Tbej financial statement of j the. company's- affaire ix .was also laid* on tlie» table.!'-', „i{,.- \ ,.- v ••'